Qiagen take over Corbett

Qiagen has bought out a privately-owned Australian life sciences instrumentation firm.

The sample and assay technology provider has acquired Corbett Life Sciences in a transaction valued at $66 million (£33 million), $4 million in restricted Qiagen common stock and further payments which could reach a further $65 million over the next four years.

Peer Schatz, chief executive officer of Qiagen, said the firm was pleased the takeover would enable the firm to offer customers a "superior platform" of technologies for the entire workflow process.

"We expect this transaction to contribute significantly to our leading positions in molecular diagnostics, applied testing, pharmaceutical and clinical research as well as academic research," he added.

John Corbett Junior, co-founder of Corbett, said the move was a tremendous one and will be very beneficial for customers of both organisations.

Last month Qiagen launched a campaign to eliminate cervical cancer, at the 14th annual Global Summit of Women.